The California Public Employees’ Retirement System (CalPERS) today announced that it has committed $75 million to private equity firm Siris Partners. This is the first direct commitment to Siris, who has previously received commitments from CalPERS through the System’s emerging manager fund-of-funds.
"CalPERS is committed to emerging manager strategies," said Ted Eliopoulos, CalPERS Chief Investment Officer. "The transition from a fund-of-funds relationship to a direct relationship with CalPERS is the outcome we hope to see with our emerging manager programs."
Siris will use the commitment to make private equity investments in middle-market technology companies in North America, with a focus on data storage and infrastructure, mobile data, smart phone and cloud computing sectors.
Siris Capital is a private equity firm focused on making control investments in data/telecommunications, technology and technology-enabled business service companies in North America. The firm is headquartered in New York, New York.
CalPERS has nearly $12 billion invested with 395 emerging managers. Since 2010, CalPERS has made more than $1 billion in new commitments to emerging manager strategies in Private Equity, Real Estate, and Global Equity, as well as commitments to individual emerging managers who have transitioned to direct investments.